Innovative Finance Models for Global Early Warning Systems for Pandemics
Despite lessons learned from COVID-19 and other outbreaks, the world remains ill-prepared for the next pandemic.
Since 2020, FasterCures has promoted collaboration to develop and improve early warning systems around the world, convening experts and stakeholders to outline a vision for an early warning network as well as key considerations for governance, data, and financing.
Building out early warning systems and supporting the infrastructure to enable them to interact beyond their silos will require ongoing commitment and funding from the public, philanthropic, and private sectors. While multiple efforts are underway at the public sector and philanthropic levels, the path for private-sector engagement has yet to be clearly delineated, despite an acknowledgment of the expertise, skills, and resources that the private sector can bring to bear.
This report explores the innovative financing models that would incentivize the private sector to support early warning systems. The Milken Institute spoke with more than 50 stakeholders as part of its Financial Innovations Lab® to identify key barriers and innovative financing models that could “crowd in” the private sector to this area of pandemic preparedness. Participants of the Lab were drawn from the investment community, international and civil society organizations, academia, and public and philanthropic sectors to explore solutions for sustainable funding and financing.